Sony joins Adani, Sun TV, Reliance and Blackstone to buy Disney's India business: Report

Sony Pictures Entertainment has commenced discussions with Walt Disney Co. regarding the potential purchase of Disney's India business, according to a news report.

The initial talks with Disney form a vital component of Sony's contingency strategy, as its ongoing merger agreement with Zee Entertainment Enterprises is experiencing considerable delays, sources told Mint.

The source told the media house, “SPE’s parent in Japan is getting frustrated with the delay and has asked to be prepared with a Plan B.”

While Sony’s patience with the ZEE merger is running thin, these discussions are in the preliminary stages, and Sony will only pursue them if the Zee deal collapses.

The source added, “Disney India was not up for sale until six months back. Now that it is, top bosses in SPE see Disney India as a better proposition, one where they have cultural similarities, too…But they don’t want to waste any more time and will proceed aggressively if that happens, as the opportunity cost would be too high."

Previously, multiple companies, such as Reliance Industries (the proprietor of Viacom18), the Adani Group, Blackstone and Sun TV Network, have considered the possibility of acquiring some or all of Disney's operations in India.

Simultaneously, the Zee-Sony merger process continues to advance, unaffected by these dialogues. Sony executives, who wished to remain anonymous, reported that integration meetings with the Boston Consulting Group (BCG) are proceeding as scheduled.

Info@BestMediaInfo.com